The full-chain interoperability protocol Analog raises $16 million in funding, gaining significant attention.

Recently, the full-chain interoperability protocol Analog has gained widespread attention due to securing $16 million in funding. Several well-known investment institutions participated in this round of financing, including some famous cryptocurrency investors and funds.

At the end of 2023, Analog attracted some attention in the industry. The project announced an open testnet registration activity on social media platforms and released related tasks on a certain social task platform, attracting the attention of some new project opinion leaders and participants.

In the current market environment, the full-chain protocol track is expected to gain more follow and development opportunities in 2024. This trend is partly driven by recent activities of other well-known full-chain protocols.

Experienced Crypto Team

The Analog team members have experience in multiple important crypto projects, which is one of the reasons why many investment institutions favor this project.

Founder Victor Young is a key figure in leading and developing the Analog protocol. According to the white paper, Young has extensive investment experience in multiple fields, including Web3, shipping, logistics, payments, markets, as well as mobile and connected devices. He focuses on technical areas such as cryptography, security, distributed systems, full-chain frameworks, and privacy, and has many years of blockchain development experience.

Business leader Eric Wang has worked on multiple well-known blockchain projects and currently serves as a part-time risk partner at a capital firm, while also acting as an advisor for another project.

Product Manager Avneet Singh has previously served as a Product Manager at a well-known oracle project; another Product Manager Sanchal Ranjan was an entrepreneur supported by a well-known venture capital firm.

In addition, some members of the Analog team have previously worked in the development organization of a well-known public chain ecosystem.

Four Core Concepts

Analog is a full-chain interoperability protocol based on Proof of Time (PoT), built on Timechain, and utilizes Zero-Knowledge Proof (ZKP) technology to enhance security. The protocol proposes four core concepts: Timechain, Proof-of-Time, Analog Watch, and GMP.

Timechain is a Layer0 network supported by Proof of Time (PoT) consensus, designed to provide a unified solution for seamless cross-chain communication. It allows platform builders to easily link their sovereignty into other ecosystems while providing dApp developers with a simple API for cross-ecosystem communication and liquidity acquisition.

PoT is a decentralized consensus algorithm that allows any node to participate in block proposals and confirmations, without hardware or funding limitations. It is based on ranking scores and fixed staking to select validators, which is different from traditional PoS mechanisms.

Analog Watch is a full-stack indexing and querying protocol built on Timechain, including the open-source Watch SDK and hosted services (Watch UI). It addresses the data accessibility issues in Web3 through decentralized and encrypted methods.

Analog GMP is a composable interoperability platform built on Timechain, aimed at extending cross-chain dApps in a multi-chain ecosystem. It allows smart contracts on different chains to pass arbitrary messages, realizing true General Message Passing (GMP).

Potential Token Allocation Opportunities

According to the token economic model published by Analog, the community allocation accounts for a high proportion, which may include ecosystem funds, staking rewards, or airdrops. The project plans to launch the testnet in the first quarter of 2024, shortly followed by the mainnet. Currently, participating in the testnet is one of the main ways for users to obtain potential token allocations.

The maximum supply of Analog tokens is 90,579,700, distributed as follows:

• Team and Advisors: Approximately 17.21 million (19%), 4-year vesting period
• Treasury: approximately 13.22 million (14%), instant unlock upon launch
• Private placement: approximately 24.27 million (26%), 2-year vesting period
• Community allocation: approximately 34.42 million (38%), instantly unlocked
• Public offering: approximately 1.44 million (1.6%), instant unlock

Currently, Analog has reopened the testnet registration. Users can register via email to gain early access and complete social tasks on the official website to earn points.